The dollar headed for a third straight weekly drop on Friday as traders reasoned the start of Donald Trump’s second term has been mostly bluster on tariffs, and knocked a volatile yen back from a 2-1/2-month high driven by a jump in Japanese inflation. Trump’s threats of tariffs have not yet materialised, fourth-quarter earnings have been robust so far and the macro data shows a U.S. Aside from Friday’s leg-up against the yen, the dollar has been struggling for traction in the past few weeks. The index has fallen 1.8% in February, heading for its biggest monthly slide since September. The euro stumbled after a series of business activity surveys showed a sharp contraction in early February in France and only mild improvement in Germany – the euro zone’s traditional twin engines of growth. Bank of Japan (BOJ) chief Kazuo Ueda quickly doused the momentum, saying the central bank could contain long-term interest rates by buying government bonds. The yen rallied beyond the 150-per-dollar mark, as a selloff in Japanese government bonds drove yields to 2009 highs after national core inflation hit a 19-month peak in January, fuelling expectations for more interest rate rises in Japan.
Rabobank strategist Jane Foley said. Another quarter-basis point rate hike is not fully priced in until September, although interest rate markets have factored in a slight chance of a hike as soon as May. The yen has gained about 3.2% so far in February. The euro was down 0.2% at $1.0479, set for a 1.1% rise this month. Against a basket of the currencies of the euro zone’s major trading partners, the euro is down 0.5% and heading for a fifth straight monthly decline. The pound held near two-month highs, trading at $1.264, after data showed UK retail sales rose more than expected in January and a separate survey showed UK business activity expanded in February, although employers made deep cuts to staffing levels. Trump’s push to make European countries more self-reliant on defence, are having an impact. U.S. tariffs may boost the dollar, he said. Sunday’s election in Germany, where polls point to a conservative coalition win, could be pivotal in shaping investors’ expectations for future economic growth. Friday’s data that showed Japan’s core consumer price index rose by an annual 3.2% against expectations for 3.1% added to the case for higher Japanese rates at a time when the rest of the world might be cutting, which ultimately supports the yen. For all his threats, Trump has only imposed a 10% duty on Chinese imports, has delayed levies on Mexico and Canada and targeted individual industries with far lighter tariffs than many had feared, based on his rhetoric on the 2024 campaign trail. China’s yuan, which on Thursday touched its highest in three months, was weaker on the day, leaving the dollar up 0.26% at 7.2547 in the offshore market. The threat of U.S. Trump this week unveiled plans for tariffs on lumber imports, but also said a new trade deal with China was possible. Nomura Securities currency strategist Jin Moteki thinks the scope for the yen to move much below 150 is limited.
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If you’re as magpie-like about jewellery as I am, you’ll always be on the lookout for new brands and original pieces to add to your collection. But along with the prominent brands we all know and love, there are a load of under-the-radar gems (no pun intended) out there just waiting to be discovered. There are so many amazing affordable and mid-range jewellery brands out there today, with a plethora of choice no matter what your style. This British brand was launched in the autumn of 2024 by Tofi Caroline Adedoyin, a former investment banking director. Tilly Sveaas founded her eponymous brand in 2016. Born in Hong Kong to British-Norwegian parents, London-based Tilly has been a jewellery designer for over 25 years, creating her first pieces during an extended trip to Bali, where she still produces to this day. Her signature T-bar necklaces have been worn by the likes of Taylor Swift. The brand’s founders, sisters Christie and Rosanna Wollenberg, believe you shouldn’t just save beautiful jewellery for best, so the sculptural rings and earrings are as practical as they are elegant. All Grove & Vae jewellery is designed in London, and created using 14k gold vermeil and rhodium-plated sterling silver. Their goal is to make pieces that ‘will be your go-to for years to come’. If you love keeping things unique and prefer to shop independent, these jewellery brands are worth checking out and keeping in mind for your next purchase. Otiumberg positions itself as a demi-fine jewellery brand.
It specialises in bright, colourful jewellery.
The brand focuses on creating timeless, versatile pieces tailored to the modern woman’s everyday wardrobe. Think timeless glamour meets modern minimalism, without the unattainable price tag. It specialises in bright, colourful jewellery. I was tired of sacrificing style for quality, or my bank account for both’ says Neima Row founder Naomi Genes. Prior to starting Bijoux De Mimi, Amelia attended Central Saint Martins. After working in the jewellery industry for 10 years, Amelia Bainbridge saw a gap in the market for jewellery that was both beautiful and affordable – and Auree was born in 2014. All Auree pieces are made with the highest quality solid gold, sterling silver or gold vermeil and natural gemstones. Catherine ‘Catch’ Rhys Jones started her label out of a frustration with the jewellery she was buying. Crystals & Co. founders (and best friends) Emily Mackeogh and Leah O’Reilly aim to accessorise peoples lives with fun, high quality affordable jewellery. So she decided to make her own. It always came with lengthy care instructions and still tarnished after only a few wears or turned my skin green’ she says. Items are produced in developing countries, giving the artisans income to lift themselves and their families out of poverty. Founded by Amelia Hitchcock-Merritt in the middle of lockdown at just eighteen, Bijoux De Mimi became one of the fastest growing jewellery brands in the UK. The pieces are gorgeous too – from delicate pendants to eye-catching hoops, available in either 18ct gold vermeil or sterling silver. The brand uses solid metals – not plated or vermeil, and promises no green fingers or brass rash. Made by small workshops all over the world, each piece holds a story. With Love Darling believes in changing the world one piece of jewellery at a time.